HitBTC Cryptocurrency Exchange Most Comprehensive Guide 2018

HitBTC positions itself as the "most advanced Bitcoin exchange". The crypto exchange has been around since 2013. The company that runs HitBTC , HIT Solution Ltd., is based in Hong-Kong, despite the fact that a lot of different sources marks it as a Europe-based. The crypto exchange is a product of collaboration between the experienced traders, software developers and finance professionals.

In early 2016 HitBTC was hacked but we don't know much information about the incident. The "advanced Bitcoin exchange" has a lot of negative feedback in the crypto forums related to the slow verification process, coin loss, withdrawals errors etc. However, the cryptocurrency exchange has a few unique features such as FIX protocol support and demo trading which is rare on the cryptocurrency market.

The interface of the HitBTC crypto exchange is advanced indeed but is easy to understand. Let's divide it into 8 zones:

A candlestick chart. The trading view chart is also acceptable with a set of tools. You can also pop out the chart on a separate page.

Instruments. They mean crypto coins. There is a wide range of them here.

Limit order/Stop order zone where you can place an order to buy or to sell cryptocurrency

Your orders — both active and past ones.

Orderbook where you can take an order to sell or buy cryptocurrency depending on the bid and amount

Trollbox where users can chat with each other. However, you can send a message only if you have at least 0.01BTC on the balance. There are a lot of available languages you can speak on there. Click on the upper-right button of the widget to choose the language you speak.

You can also pause/resume the trollbox streaming.

Shows the history of recent trades

The market depth that shows the liquidity and depth for a currency

Which is more, you can arrange the widgets of the crypto exchange according to your preferences by clicking on the square button in the top right section of the screen:

Account verification

You can use General account settings to trade on HitBTC . However, if you want to deposit fiats you will need to verify it. For that, contact HitBTC .com from the email linked to your HitBTC account. The email should contain the following information:

Once you have registered on the exchange you will need to enable a two-factor authentification which should be integrated with Google Authenticator. You can also enable a withdrawal verification function which is highly encouraged by the crypto exchange.

The other functions to provide your security include:

E-mail notification if you log in from a different IP address

Terminate all sessions button

Automatic logout settings

How to deposit and withdraw money

To open an online wallet click on the green "Deposit" button in the top right of the screen. You will see a list of different cryptocurrencies. Click the "Deposit" button to the right of the crypto-coin you are going to deposit. The crypto exchange will show a QR-code and your wallet's address.

Currently, you can buy Bitcoin with Visa/Master credit/deposit card on the crypto exchanges' partners service by clicking on the "Buy Bitcoin With Credit Card" button in the top middle section of your account.

To make a withdrawal, click the "Withdrawal" button to the right of a crypto coin and insert an amount and the address of your private wallet. Then select "withdraw", type your 2FA code and confirm the transaction via email.

The withdrawal process can be viewed in the "Payment History" or "Latest Transactions" sections.

HitBTC has a partnership with Trusted Volumes, so if you have a high volume of cryptocurrency to trade (over $100k USDT), it will be more profitable for you to use the OTC (over-the-counter) trading. The commission will be 0.1 percent.

Over the counter trading means you trade directly with the counterparty and don't affect the market price of the coin or token.

HitBTC offers monthly Market Making contracts for the experienced traders for cash incentives and rebate bonuses. The market makers can select only one contract with a single trading pair from each category. Here is a list of the available contracts:

HitBTC has an affiliate program which gives you a reward if you bring new people to the crypto exchange. Proceed to your accounts settings, select "Affiliate" and click on the "Generate link" button. The generated link will be viewed below:

You can edit the name of the link, track sign-ups, turnover, and earnings. But first, copy the link and send it to your friend. When your friends start trading you will get 75 percent of the crypto exchange fees from all his transactions as a reward. The larger his trading volume the larger your fees.

On top of that, you can implement a price ticker widget into your website interface, blog or article. For that click the "Price Widget" button in the footer of the website and choose the suggesting settings of the widget.

The majority of the altcoins are traded against BTC and ETH. As to the fiats, some coins can be traded against Tether (USDT) which is backed by USD for a General account and USD/EUR deposits/withdrawals for Verified and Qualified ones.

HitBTC has a forum where the crypto exchange support service can answer on the user's questions. Besides, they also have a Bug Report service where you can write a letter with a detailed description of the system's bug. They also accept any other feedback, especially if you have "some ideas on how to make our service more convenient and efficient for you".

Conclusion

As you can see, the HitBTC cryptocurrency exchange indeed has a lot of various advanced features. However, not all of them work in the right way (long deposit/withdrawal process, transactions "losses") and that is its main drawback. Besides, we can't miss the number of the negative users' reviews despite the fact that some of them can be fake.

Overall, you should consider the crypto exchange if you are looking the one with high volume, liquidity, and API access.